A $27 million housing project for low- and very-low income families near Mission Hills has been completed and is fully rented out.

The Mission Apartments is an 85-unit complex that sits on 1.5 acres in the Midway District, north of the Mission Brewery building at Washington and Hancock streets. The apartments also are near the Washington Street trolley station.

The project, which started construction in August 2011, is a public-private partnership that includes the San Diego Housing Commission. The developer is Agoura Hills-based AMCAL Multi-Housing. Funding sources include the housing commission, Bank of America, California Community Reinvestment Corporation and an allocation of tax credits from the California Tax Credit Allocation Committee.

The courtyard at the Mission Apartments. Photo courtesy of AMCAL Multi-Housing. CLICK TO ENLARGE.

The courtyard at the Mission Apartments. Photo courtesy of AMCAL Multi-Housing. CLICK TO ENLARGE.

All the units except one, which is reserved for an on-site manager, are affordable to households earning 50 percent to 60 percent of the area median income. Rents for two-bedroom units range from $854 to $1,025, while three-bedroom units range from $949 to $1,139. The development features a community room, courtyard, playground and computer lab.

The developer is holding an official grand opening ceremony on-site 11 a.m. Thursday. San Diego City Council President Kevin Faulconer and Rick Gentry, CEO of the San Diego Housing Commission, are scheduled guest speakers.

San Diego County has nearly 40,000 affordable housing units, based on figures from the San Diego Association of Governments, or SANDAG. That tally includes rentals for low- and very-low income households and for-sale units.

In the city of San Diego alone, eight affordable housing projects are considered in limbo following the death of redevelopment, based on numbers from the San Diego Housing Federation. Those eight projects comprise more than 900 units.